Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and BitGo, Inc.

Release date
12/30/2020
Body

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a settlement with BitGo, Inc. (“BitGo”), a technology company based in Palo Alto, California, that implements security and scalability platforms for digital assets and offers non-custodial secure digital wallet management services.  BitGo agreed to remit $98,830 to settle its potential civil liability for 183 apparent violations of multiple sanctions programs.  The apparent violations were processed between March 10, 2015 and December 11, 2019 on behalf of persons located in the Crimea region of Ukraine, Cuba, Iran, Sudan, or Syria that were using BitGo’s non-custodial secure digital wallet management service.

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